Paragraph 8 F1
United Kingdom
For the purposes of this Schedule an asset is a chargeable asset in relation to the claimant at a particular time if, were the asset to be disposed of at that time, any gain accruing to him on the disposal would be a chargeable gain, and either—
the claimant would be chargeable to capital gains tax F3as a result of section 1A(1) (persons and gains chargeable to capital gains tax) in respect of the gain, or
he would be chargeable to capital gains tax F4as a result of section 1A(3)(a) (non-resident with United Kingdom branch or agency) in respect of the gain,
unless (were he to dispose of the asset at that time) the claimant would fall to be regarded for the purposes of any double taxation relief arrangements as not liable in the United Kingdom to tax on any gains accruing to him on the disposal.
Annotations
Textual amendments
- F1
Sch. 7C inserted (28.7.2000) by Finance Act 2000 (c. 17), s. 48(2), Sch. 9
- F2
Sch. 7C para. 8(a) substituted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 111
- F3
Words in Sch. 7C para. 8(a) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 93(a)
- F4
Words in Sch. 7C para. 8(b) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 93(b)
Notes on Schedule 7C
Textual amendments
- F2
Words in Sch. 7C heading substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 37, 89 (with Sch. 8 paras. 90-96)